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Agricultural Districts and Farmland Prices

  • Vitaliano, Donald F
  • Hill, Constance

A hedonic price equation of structureless farmland prices in New York State are fitted to 458 land transactions between 1982-1985. No capitalization is found of the state's Agricultural District farmland preservation program, which combines current-use property taxation with several development-inhibiting features. It is hypothesized that landowners avoid joining the program when it would threaten profits from a development sale, and that those who do participate gain little because agriculture is the highest value use of their land. Copyright 1994 by Kluwer Academic Publishers

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Article provided by Springer in its journal Journal of Real Estate Finance & Economics.

Volume (Year): 8 (1994)
Issue (Month): 3 (May)
Pages: 213-23

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Handle: RePEc:kap:jrefec:v:8:y:1994:i:3:p:213-23
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